Visa is not sitting still.
This excellent article on Bloomberg.com tells their story and tells why Visa signed in to Apple Pay:
http://www.bloomberg.com/news/2014-10-02/visa-fends-off-usurpers-by-joining-apple-in-pay-system.html
Here is a snippet from that piece:
A 4-foot-tall robot with a video screen for a head swerves past an orange couch and bumps into the wall of a conference room. A few feet away, an engineer tests a virtual reality headset that can allow a coffee-shop owner to forecast hot-chocolate sales during a blizzard.
This is Visa Inc.’s new outpost in San Francisco -- part executive office, part design laboratory and entirely the brainchild of Charlie Scharf, Visa’s chief executive officer.
Scharf, who this July day had unveiled the latest version of the company’s digital wallet, is sitting in an office overlooking San Francisco Bay...
My thoughts ...
I have a bit of professional expertise in the area of payments and mobile payments. The large payment networks of today essentially state the two most important players in retail are the consumer and them, forget the merchant. I've always felt this is out of balance a bit. What real value do the payment networks provide? Ubiquity, I can use my Visa card just about anywhere in the world. Nice. Beyond that?
Seems like the merchants are left out in the cold in this arrangement and what is shopping without them? Shouldn't they be in the loop?
Seems like it to me.
The future will be different from today. Who knows what that will look like.
Happy Reading,
J.W. Gant
This is Visa Inc.’s new outpost in San Francisco -- part executive office, part design laboratory and entirely the brainchild of Charlie Scharf, Visa’s chief executive officer.
Scharf, who this July day had unveiled the latest version of the company’s digital wallet, is sitting in an office overlooking San Francisco Bay...
My thoughts ...
I have a bit of professional expertise in the area of payments and mobile payments. The large payment networks of today essentially state the two most important players in retail are the consumer and them, forget the merchant. I've always felt this is out of balance a bit. What real value do the payment networks provide? Ubiquity, I can use my Visa card just about anywhere in the world. Nice. Beyond that?
Seems like the merchants are left out in the cold in this arrangement and what is shopping without them? Shouldn't they be in the loop?
Seems like it to me.
The future will be different from today. Who knows what that will look like.
Happy Reading,
J.W. Gant
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